UQM Technologies Makes Breakthrough in Non-Rare-Earth Electric Motor
Design Under DOE Development Program

Work is funded through a $4 million cost-share award to UQM as part of
a DOE Advanced Research and Development Grant

November 13, 2012 08:30 AM Eastern Standard Time

LONGMONT, Colo.--(BUSINESS WIRE)--UQM Technologies, Inc. (NYSE MKT: UQM) announced today that it
has made a significant breakthrough in the development of non-rare-earth
magnet electric motor design as part of the work being done under the
Department of Energy (DOE) Advanced Research and Development Grant.

“Leveraging our expertise in electric motor design, we’ve developed an
electromagnetic design that produces competitive power-density and
efficiency with non-rare-earth magnets,” said Eric R. Ridenour,
President and Chief Executive Officer of UQM Technologies, Inc. “This is
great progress toward our objective of identifying magnet materials and
technology that can deliver the performance our customers expect while
limiting our exposure to price and supply concerns associated with
rare-earth magnets.”

This work on non-rare-earth magnet motors is funded through a $4 million
award to UQM as part of a DOE Advanced Research and Development Grant.
Under the agreement, UQM is cost-sharing 25 percent of the total effort.
The engineering team at UQM is working collaboratively with Ames
Laboratory, the National Renewable Energy Laboratory and Oak Ridge
National Laboratory to develop and apply these non-rare-earth magnets in
a high-performance permanent magnet motor.

“The key to using non-rare-earth magnets in electric motors for vehicles
is our patent-pending motor geometry, which in part defines the shape
and magnetization direction of the permanent magnets,” said Jon Lutz,
UQM Technologies’ Vice President of Engineering. “The completion of the
electromagnetic design and analysis task is a significant step in the
process of advancing motor and generator technology for electric and
hybrid electric vehicles, providing an alternative to rare-earth magnets
in permanent-magnet motor designs.”

The next phase under the DOE grant is the mechanical design of the
motor. Work on this is now underway at UQM to produce a concept-unit
build in the next calendar year.

About UQM

UQM Technologies is a developer and manufacturer of power-dense,
high-efficiency electric motors, generators and power electronic
controllers for the automotive, commercial truck, bus and military
markets. A major emphasis for UQM is developing propulsion systems for
electric, hybrid electric, plug-in hybrid electric and fuel cell
electric vehicles. UQM is located in Longmont, Colorado. Please visit www.uqm.com
for more information.

This Release contains statements that constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act and
Section 21E of the Securities Exchange Act. These statements appear in a
number of places in this Release and include statements regarding our
plans, beliefs or current expectations, including those plans, beliefs
and expectations of our officers and directors with respect to, among
other things, future orders to be received, future financial results and
the continued growth of the electric-powered vehicle industry. Important
Risk Factors that could cause actual results to differ from those
contained in the forward-looking statements are contained in our Form
10-Q filed October 25, 2012, which is available through our website at www.uqm.com
or at www.sec.gov.